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MODCAM

Modcam – vision sensors with onboard analytics for retail customer analysis

Total Cost €

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EC-Contrib. €

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Partnership

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 Outcomes and results

 MODCAM project word cloud

Explore the words cloud of the MODCAM project. It provides you a very rough idea of what is the project "MODCAM" about.

1600    solutions    unlocking    sme    earns    costing    statistical    least    amount    capture    proprietary    hot    translates    300    monthly    solution    pixels    17m    prepare    operations    network    6816    zones    remote    speed    hitting    eleven    optimize    2    powerful    track    store    senior    queue    vision    immense    sales    modcam    first    conduct    75m    cold    full    sek    revenue    employees    pain    annually    device    launched    mobile    ikea    feasibility    bi    roll    world    sensor    advances    promotion    swedish    provisional    server    customers    fee    expertise    compact    counts    camera    charging    retailer    retail    barrier    complete    paying    chains    200    efficient    retailers    2020    commercial    ebit    analytics    computer    patents    stores    remarkable    negotiations    professionals    countries    50    class    becomes    distributed    bandwidth    video    insights    batch    generation    customer    lower    sensors    gather    patent    visitors    manually    points    markets    companies    market    telecoms    effectiveness    2013    demographic    holds    26    data    combining    flow   

Project "MODCAM" data sheet

The following table provides information about the project.

Coordinator		 MODCAM AB 

Organization address
address: BREDGATAN 4
city: MALMO
postcode: 21130
website: n.a.

contact info
title: n.a.
name: n.a.
surname: n.a.
function: n.a.
email: n.a.
telephone: n.a.
fax: n.a.
 Coordinator Country Sweden [SE]
 Project website http://www.modcam.com
 Total cost 71˙429 €
 EC max contribution 50˙000 € (70%)
 Programme 1. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT))
2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
 Code Call H2020-SMEINST-1-2016-2017
 Funding Scheme SME-1
 Starting year 2017
 Duration (year-month-day) from 2017-01-01   to  2017-06-30

 Partnership

Take a look of project's partnership.

# participants  country  role  EC contrib. [€] 
1    MODCAM AB SE (MALMO) coordinator 50˙000.00

Map

 Project objective

Advances in camera and sensor technology are unlocking remarkable opportunities for in-store retail customer behaviour analysis, enabling retailers to optimize operations based on rich data insights. Using vision sensors, retailers can track customer flow to determine hot and cold zones, promotion effectiveness and queue speed, and gather demographic data. This is far more effective than methods used by chains such as IKEA, which still counts visitors manually bi-monthly, costing €1600. The first generation of retail analytics technology is now hitting pain points. Video holds an immense amount of data, and analytics are currently conducted on a remote server, meaning network bandwidth becomes a barrier. Modcam has developed a cost-efficient technology solution for retail analytics using powerful proprietary vision sensors that can conduct video analytics in the device. This means only statistical information is distributed over the network rather than pixels. Using Modcam, a retailer can set up a complete customer analytics system for at least 50% lower costs than current solutions. Modcam is a Swedish-based SME that launched in 2013 by 4 senior technical professionals combining world-class expertise in computer vision and mobile telecoms. It has obtained one patent and two provisional patents for its methods, and has already produced a commercial batch of its compact sensors. It has four paying customers, and is in advanced negotiations with eleven companies including IKEA and H&M, with potential full-scale roll-out in up to 6816 stores. Modcam earns revenue by charging a monthly fee of between 200 SEK and 300 SEK per device. It aims to capture 2% of the retail analytics market in 4 countries by 2020, which translates into 26,000 unit sales annually. This will result in revenue of 75M SEK, an EBIT of 17M SEK and 40 employees. This feasibility study will prepare Modcam to scale up across new European markets.

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The information about "MODCAM" are provided by the European Opendata Portal: CORDIS opendata.

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